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Shared ownership - spouse already owns a property

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Skag
Skag Posts: 480 Forumite
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in House buying, renting & selling
My spouse already owns a BTL property before our marriage.

I live in London and I am eligible for a shared ownership on my own, but what happens in my situation where my husband already owns a BTL in a different town? There is no mention of it here: https://www.sharetobuy.com

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  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
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    Skag wrote: »
    My spouse already owns a BTL property before our marriage.

    I live in London and I am eligible for a shared ownership on my own, but what happens in my situation where my husband already owns a BTL in a different town? There is no mention of it here: https://www.sharetobuy.com

    I would say you're probably not eligible going by the FAQ but you would really need to contact Share to Buy to confirm. My reasoning being that both you and your spouse are not eligible as a couple but households appear to be assessed jointly even if only one person applies.

    As far as SDLT goes, because as a married couple you already own one property between you the higher rate of SDLT will apply even if you are able to only purchase via share to buy in your name only.
  • Skag
    Skag Posts: 480 Forumite
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    My gut feel is also that we're not eligible, but I thought maybe someone else knows. I'd better check with them though. Thanks.
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